Zach Greinke, arguably the best and most coveted pitcher in the free-agent market, has found a new home, signing a
six-year deal with the Los Angeles Dodgers approximately worth $147 million.

"As we set out this offseason to add a front-line pitcher who is capable and proven, Zack was the one we zeroed in on," Dodgers general manager Ned Colletti said.

"We are very pleased to add a second pitcher who has won a Cy Young Award to this rotation and organization. We believe he brings a lot to this team and to a pitching staff that was already very good," he added.

Along with the signing of Korean left-hander Hyun-Jin Ryu, the Dodgers' 2013 payroll zoomed past $225 million, a Major League record.

With the signing of Greinke and Ryu, who are expected to be the No. 2 and No. 3 starters, the Dodgers now have unprecedented pitching depth.

Clayton Kershaw is expected to be the top starter while Chad Billingsley and Josh Beckett will be the fourth and fifth in the rotation. With a packed rotation, the Dodgers can use Aaron Harang, Chris Capuano and Ted Lilly as trade baits to fill the team's other needs.

Greinke's new deal, the largest for a right-handed pitcher, eclipsed the $144 million extension that Cole Hamels signed with the Philadelphia Phillies in July.

Greinke's new deal is the second most lucrative in history for a pitcher, trailing only the original $161 million deal signed by CC Sabathia in 2009 with the New York Yankees.

The 29-year-old Greinke will have a full opt-out clause in his new deal. He will not have a no-trade clause, but the right-hander can opt out after the first year if he is traded.

The one-time Cy Young Award winner compiled a 15-5 record with a 3.48 ERA and 200 strikeouts in a 2012 season he split between the Milwaukee Brewers and Los Angeles Angels.